Angelini Pharma to acquire Swiss CNS company

Italian drugmaker Angelini Group was fast out of the blocks today, announcing 2021’s first M&A deal.

Via its Angelini Pharma unit, the privately-held company will acquire Arvelle Therapeutics, a Swiss biopharmaceutical company focused on bringing innovative treatments to patients suffering from central nervous system (CNS) disorders.

Under the all-cash transaction Angelini Pharma will acquire Arvelle for a total aggregate valuation of up to $960 million. Following regulatory approval, $610 million will be paid. Subsequently, and subject to cenobamate reaching certain revenue targets, a further $350 million will be paid. The transaction is expected to close in the first quarter of this year.